Aspects Of Negotiation Essay

1469 words - 6 pages

Negotiation is defined as “a social interaction between two (or more) parties who provide arguments in an attempt to influence each other to accept their view regarding the value of the negotiated object” (Maaravi, Ganzach, & Pazy, 2011). This means that two parties are trying to reach an end state goal and both require something from other in order to meet that goal. A company or person identifies an issue for either a want or a need to resolve that issue but they cannot remedy the problem on their own. This creates an environment to start a negotiation with another party that can either resolve the entire issue or be a portion of a series of negotiations in a multi-step process. There ...view middle of the document...

The negotiation process is communication of offers and counter offers with different variables to achieve what best suits both parties’ priorities and interests. The BATNA is a great source of power to every negotiating party and the better BATNA the higher the reservation point will be because a party can rely on an alternative. Also, if the other party reveals their BATNA that can be exploited during the negotiation process to agree upon terms in the parties lower region of their Zone of Potential Agreement (ZOPA).
Initially, our basic needs must be met in order for us to survive. These basic needs are food, water, shelter, and clothing. Sometimes people confuse these needs with wants. For example, people need food but they it is not a necessity to eat lobster and steak when just rice and chicken will suffice. Money is the tool that people use to trade for these needs because many societies now have people work for a negotiated price then the people trade that money earned for the things they need and want. This leads into negotiation for our time and labor which is the job market. Different types of negotiations take place for jobs with many factors such as: practice type, income, location, materials, training, etc. (Dunn, 2010)
Furthermore, if you have a spouse or other significant person that needs to be factored into the self-assessment process. As to how will this affect them and the relationship with them? Also, another important question is “What are you worth?” This is where research and preparation are crucial. An assessment of economic value, in general, and also in the specific geographic market of employment and a person’s experiences and training. Geographic location is a key aspect into salary negotiation as the equivalent salary in another location may increase or decrease the lifestyle in which a person can afford. Salary of the job at the geographic location of where the person works is the number one factor in the negotiation of a job. Also, benefits may be negotiated as part of compensation for the job. Benefits could range from 20% to 100% of the compensation received and should always be discussed as part of the “package” for employment This can be supplement the monetary value of a salary with additional benefits and perks such as health care, insurance, living allowances, clothing allowances, parking spaces, etc. The person negotiating for their compensation must be prepared to negotiate all these different factors of the job offer. (Dunn, 2010)
Moreover, offers and counter offers should be researched and be reasonable to both parties. An extravagant offer or counter offer could be embarrassing and cause the other party to lose face. This would strike a discord and not develop the trust that is necessary for a negotiation. An offer must be reasonable so that the other party feels that the intent of reaching an agreement is still within grasp. If not, they will likely back away from the table. First...

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